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...JPMorgan Chase, Bank of America, Wells Fargo and Citigroup collectively made $253bn in net interest income (NII) for the whole of 2023 — a 19 per cent jump from 2022’s total....
...Financial data company S&P Global is nearing a deal to buy research platform Visible Alpha that could value it at more than $500mn from a consortium of investment banks including Goldman Sachs, Jefferies...
...And last week, the Commerce Department reported that the personal consumption expenditures price index — the measure of inflation the Fed uses for its target — accelerated at a pace of 2.5 per cent in February...
...It hopes to combine these two things into a single “platform” — basically a pot of money devoted to global public goods. There are still some big-ticket items outstanding from the G20’s report....
...Bank of America estimates that if interest rates stay at their current level, it will translate into a 32 per cent hit to earnings over the next five years....
...Barclays announced new management for most of those divisions on Tuesday, with the investment bank being co-led by four people....
...The S&P had been within touching distance of the records for a month, after a blistering rally at the end of 2023....
...One of the consequences of a financial system where banks are losing ground to shadow banks/non-bank financial institutions/capital markets (delete according to preference) is that the traditional lender-of-last-resort...
...at the British Chambers of Commerce, a business lobby group....
...It has been an adviser on many of 2024’s megamergers, including BlackRock’s $12.5bn acquisition of the infrastructure investor Global Infrastructure Partners....
...People like talking about the Magnificent Seven....
...“This suggests some people do not think we are out of the woods.”...
...Bank of America found US public companies with more diverse boards had a higher return on equity and lower volatility in earnings per share than their less diverse peers....
...Industrial oversupply could even lead to a “slow-motion train accident for world trade”, according to the president of the EU Chamber of Commerce in China....
...“Where is the evidence that executive pay is not gaining us the candidates we need in the UK,” asked Paul Drechsler, chair of the International Chamber of Commerce....
...For Jill Carey Hall, US equity strategist and head of US small and mid-cap strategy at Bank of America, the lower valuations of small-caps bode well for returns....
...Joanna S Kao So what’s the scope of this problem? Just how many people are dropping out of China’s state health system? Sun Yu Last year, almost 20mn people dropped out of the healthcare system....
...Nearly 10 per cent of this balance was in serious delinquency (defined as 90 days or more late), according to the Federal Reserve Bank of New York....
...A classic example of a yield-enhancing structured product is a so-called “covered call”: a purchase of the S&P 500 index and a simultaneous sale of a one-month call option on the index....
...Ramki Muthukrishnan and Ruth Yang, who cover leveraged finance for S&P, agree this is best understood as the gradual restoration of competition, rather than banks surging into the lead....
...The S&P 500 index of blue-chip companies is up more than 9 per cent since the start of the year....
...Some of the world’s biggest banks — Morgan Stanley, Wells Fargo and Bank of America — are all reportedly lining up to get involved in bitcoin, too....
...Numbers news The Bank of England’s Bank Underground blog has a nerdy statistical piece that explores a wage growth measure that is reweighted to better match inflation....
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